Welcome to the electronic signatures guideline, where we will be shedding light on the new form of signing. When electronic signatures emerged, countries have seen up to a 70% reduction in the signing process’s overall cost.
The paperwork needed is lower, and so is the time needed to read, comprehend, and sign. Even as the process gets simpler, some questions always arise. Can I use an e-signature on any document? What are the laws governing the creation and use of electronic signatures?
We will talk about e-signatures in general and why they are crucial in your business. We will also see the laws surrounding the new signing method, but they may differ depending on your location.
Part 1: Electronic Signatures Overview
Also known as the e-signatures, the electronic signatures are slowly replacing the ink. There is less paper to deal with, and the printing costs are no more since everything is electronic. There is authentication of the signatures embedded, and most importantly, they are secure.
That is why they now equal to what the pen represented. If we look at the former way of signature input, it has reigned for thousands of years. It also took different forms, which included ink, fingerprint, stamps, etc.
The world is reshaping, and the signatures have been adversely affected. If you haven’t witnessed it, then wait for the next one year and notice the change. An e-signature is easier to make and handle, and it fastens the process.
Since that matter, that is why e-signature websites and apps are on the rise. The current and future citizens want to use it, and that’s why you need to know what they entail.
Defining the Electronic Signature
You may see a few definitions here and there, but they all settle on one thing. It’s the signature you create using electronic means. We have smartphones, tablets, and computers these days, and that is what we need to input the signatures currently.
To settle on the facts, let’s focus on how the US and the EU defines an electronic signature. In the US, it stands for a symbol, electronic sound, or process. It’s used or associated with a record/contract, and a person executes it intending to sign.
That is a definition that most states follow when creating, using, and determining the legality of e-signatures. It’s adapted from the Uniform Electronic Transactions Act (UETA). In the EU, the meaning comes from the eIDAS Regulation.
It states that it’s electronic data that is logically associated or attached to other data in electronic form. It’s used by a signatory to sign. Both definitions form the basis of how individuals, businesses, and other entities create and use e-signatures.
Part 2: The E-Signatures Legality Question
In most EU countries and the US, a law can be signed into action using electronic means. The courts are also following suit by allowing electronic signatures to be presented as part of the evidence. That means there are minimal cases where one can reject an electronic sign.
Since an electronic signature cannot jeopardize you, you can always consider it to ease the job. It, however, needs to meet some requirements to be regarded as legal. They include the following:
- The signer agreed to have an electronic signature. It’s necessary to have the consent of the involved party since others might opt to go the paper way.
- The signatory had the intention to sign electronically. That means it was clear on using the option.
- Attribution to the signature is also vital. More information about the e-signature may include an IP address, email, timestamps, and even two-step verification. The more you have the attributes, the higher the standard of proof.
- A direct connection or association between the signature and the document is also crucial.
In most of the signing platforms, these rules are readily in use. Why? Because that is what it takes for an e-signature to be legally binding.
Part 3: Electronic Signature Uses
Unless there is an illiterate computer case, an e-signature will always be considered. There are other cases such as divorce, death, or a signature requiring a few other witnesses.
Otherwise, the passing of contracts, government laws, and policies, among other scenarios, will always consider the e-sign if it’s available. Here are some of the small, medium, and large organizations where electronic signatures are applicable:
- Banks and other money lending institutions
- Insurance companies
- Consultants and freelancers
- Small businesses and partnerships
- Non-profit organizations
These are just a few of the places where e-signatures are already applicable. The prediction is that the user numbers will continue to rise, increasing the business conduction efficiency.
It’s easy to integrate an e-signing platform with your business. Most of them promote confidentiality, which is needed in most of the crucial organizations.
Now that it’s a habit that has gone global and viral, everyone can see the advantages of having electronic signatures.
Part 4: The Rise and Rise of CocoSign E-Signature Platform
One of the platforms that you can use to create an electronic signature is CocoSign. It has already been used in over 180 countries due to its availability and ease of use. It’s all web-based, and it assists you in creating a signature and using it on documents.
The signature creation process takes about a minute, and all the presented options are readily available. First, if you already have an e-sign, you can upload and use it there. Other options include writing via the keyboard, using a mouse or touchpad, or the graphic tablet.
You’ll need an account to store and use the signature there, but it’s all free of charge. That is why businesses, companies, and government agencies have found comfort in CocoSign. Apart from signing, you can store your documents there for easy access.
To promote efficiency, CocoSign allows for multiple signing. If there’s more than one party involved, all you need is sign and send the link to the rest. Above all, there is multi-layer protection for the servers, and it’s also compliant with international security standards.
It can support various document forms, and you can upload using a variety of means. To see how it works, look at the main website before introducing it to your business or company.
It’s time to save the environment by demanding fewer papers for signing purposes. Electronic signatures are gaining popularity, which means a lot of places are embracing 21st-century progress.
It’s essential to check on the laws governing the use of e-signatures in your country or state. After that, you can introduce a platform such as CocoSign to save time, money, and resources.